Users Value the Data Stored on Their Devices at $682 on Average

During its annualresearchproject,that investigates user behavior on the Internet, Kaspersky Lab and B2B International have discovered the average value of files stored on user devices exceed more than twice the average ransom demanded by cybercriminals for decrypting data after infecting it with cryptoransomware. These figures explain why so many people are willing to pay extortionists, and once again demonstrate the need for preventive protection measures against online threats.

Malicious programs designed to encrypt personal data and demand ransom for its decryption, have been continuously growing in number in recent months. The popularity of this type of threat is, to a large extent, explained by its effectiveness. According to the statistics, at least 40% of victims pay fraudsters to restore their files. This is not surprising, especially considering the fact that the average ransom demanded is $300, while users say that the cost of restoring the data on their devices would be $682 on average. Moreover, for 39% of respondents this figure exceeds $1,000.

Nine out of ten users report storing important personal information such as photos, video, messages, contacts, etc. on their devices and admit that if these were lost, they would not be able to restore 15% of this data. According to the respondents, the most difficult thing is to restore private messages (36% believe they will be lost forever if something happens to the device) and photos (27%).

Despite the fact that users set a high value on the contents of their devices, not all of them take proactive protection measures, instead running the risk of having to pay hundreds of dollars to restore lost data. For example, only 9 out of 10 respondents install protection on Windows computers, even less (6 out of 10) on Macs. And nearly a quarter of users (23%) do not backup even their most important files.

"It is interesting that people value their data highly, understand its irretrievability, but do so little to protect it – preferring to solve problems as they arrive. However, in cases of malicious encryption, even paying a ransom does not guarantee that the data will be returned to the owner. And, unfortunately, ransomware is not the only threat jeopardizing personal data. For example, data may be lost or stolen together with a device. This all means that careless user behavior may result in an emotionally upsetting experience as well as considerable financial loss", says Elena Kharchenko, Head of Consumer Product Management, Kaspersky Lab.

Kaspersky Lab’s solutions combat all known types of ransomware to secure user’s data. When these solutions are in place, most ransomware is “caught” while attempting to penetrate a device. Nonetheless, even if malware does manage to sneak through, there is another layer of protection – System Watcher technology – that is able to block and roll back malicious changes made on a device, such as the encryption of files or blocked access to the monitor. In addition, Kaspersky Total Security, the security solution for families, also includes a backup feature for Windows devices to create copies of important files for unforeseen situations.